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Samsung’s mobile division still accounted for two-thirds of the operating profit, but sales are slowing as competition in the upper end of the smartphone market pushes down prices.

Analysts estimate Samsung sold 85 to 89 million smartphones during the quarter, noting that strong sales of low-end and mid-range smartphones covered falls in profit margins, according to the Telegraph.

Samsung said an upswing in shipments of mass market models helped to improve earnings.

"Despite currency depreciation in emerging markets, increased price competition and global market uncertainties, we were able to reach record earnings driven by solid earnings in our core businesses, including memory chips and smartphones," said Robert Yi, Samsung's senior vice-president.

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